Miniscript Workshop Presentation
Last updated
Last updated
When we create transactions, we encode spending conditions in the transaction outputs. These conditions stipulate what must be provided to spend the transaction output. Example spending conditions include:
Single signature corresponding to the public key or public key hash encoded in the output.
2-of-3 multisignature script where pubk1 must sign.
1-of-2 multisignature script where either pubk1 or pubk2 can spend.
1-of2 multisignature inheritance script where either pubk1 (parent) can spend at any time or pubk2 (child) can only spend after n (say 4 years) blocks.
3-of-3 multisignature script that turns into a 2-of-3 after 30 days.
Pre-image corresponding to a payment hash for a HTLC.
Some of these conditions are simple to create and validate for soundness and correctness, however, others prove to be quite tedious because Script - the language used in Bitcoin to encode these conditions, does not lend well to:
Composition: It is difficult to compose scripts. For example, a 1-of-2 multisig (top) script looks markedly different from a 1-of-2 timelocked-inheritance multisig script (bottom). Limitations in OP_CHECKMULTISIG, i.e. it's impossible to check timelocks, makes composition difficult such that the eventual script looks nothing like a multisig.
Ease of Use: It is not exactly easy to use. A lot of time is spent ensuring that scripts are arranged in correct order. Take for example, a 2-of-3 multisig with 3 participating hardware wallets. The descriptor for these wallets have to be constructed carefully so that any two of the three wallets can spend from addresses/scripts generated by the co-ordinating wallet. Any modification to the spending condition will result in another tedious verification exercise.
Wallet Interoperability/Importability: Wallets that do not understand the constructed script cannot import and support it.
Spending: Constructing the right witness to spend is also difficult. Signatures have to be provided in certain order.
Optionality: There is no standard way to write scripts for a given spending condition. You could construct multiple scripts for the same spending condition, optimizing for different properties like compactness and readability, transaction size.
Resource Limitations
Programming anything but simple scripts is fraught with challenges, as mentioned previously. To address these challenges and enable advanced spending coditions, Miniscript was created and:
Provides a policy language that is a simple expressive language that humans can use to codify spending conditions.
Provides miniscript, a language for writing a sub-set of bitcoin script, enhanced with batteries that facilitate script composition, ease, verify correctness, etc.
Miniscript is bitcoin script representation that makes it easier to write complex scripts, allowing composition, and static analysis.
The policy language is succinct. It has seven (7) policies that are sufficient to embed meaning and capture most use cases. It is easy to use, to read and understand. A few examples below.
2-of-3 multisig, any pair
thresh(2, pk(key1), pk(key2), pk(key3))
2-of-3 multisig,pubk1 must sign
thresh(2, pk(key1), or(pk(key2), pk(key3)))
1-of-2 multisig, pubk1 or pubk2 can sign
thresh(1, or(pk(key1), pk(key2)))
1-of2 mutlisig inheritance, pubk1 can spend at any time or pubk2 can only spend after n blocks/secs
thresh(1, or(pk(key1), and(pk(key2), older(n))))
3-of-3 multisig, turns to 2-of-3 after 30 days
thresh(3, pk(key1), pk(key2), pk(key3), older(4320))
Based on the semantics (meaning) captured by the policy language, policies can be compiled into miniscript, mapping nicely into a 1:npolicy-to-miniscript-fragment mapping.
The images below capture examples of 1:n mappings where n = 1, and n = 4.
Miniscript is composed of fragments (parts of the language) that map 1:1 to bitcoin scripts. These fragments of two types:
Normal fragments: taking the form of fragment(arguments,...), e.g. and_v(x, y).
Wrapper fragments: taking the form of prefix:fragment(arguments,...). The prefixes do not change the meaning of the sub-expressions they wrap. Wrappers can also wrap wrapped sub-expressions, i.e. prefix1:prefix2:fragment(arguments,...). Miniscripts in this form are simplified to prefix1prefix2:fragment(arguments,...), e.g. d:v:older(15) == dv:older(15)
